Executive Credit Management, Inc.
Your Applicant Screening and Debt Collection partners for over 20 years
If you handle Medical billing you know you will have a high percentage of un-collectible bills. While this is a problem that won’t completely go away, there are a few simple things you can do to significantly increase the amount of money you get back on your unpaid bills, either through your billing procedure or through your Medical Debt Collection professional.
If you take a look at some of the biggest problems, you will find that some patients seem to have no ability or intention to pay your bill. Depending on your practice, others die with no estate. Finally, some patients think you have been paid enough and are unwilling to pay the deductibles and co-pays.
Hopeless? Hardly! You can dramatically improve your return on Debt Collection by making a few simple additions to your applications and providing patients with simple information about your payment policies. Let’s take a look at each problem separately.
Medical Debt Collection patients who seem to have nothing sometimes have information they don’t provide. What they often will provide, however, is Emergency contact information if you ask for it.
If your application asks for an emergency Work phone, an emergency relative phone and home, cell and normal work phone numbers you will be able to contact many of these patients. If you know where they work you have the option of wage garnishment. Patients contacted at work tend to be more willing to pay.
While deceased patients cannot be located, You can, speak to a knowledgeable relative if you have an Emergency family contact number on your application. More often than not, this family member will know about insurance information and, sometimes, there is an estate available to pay bills.
Finally, you can dramatically reduce disputes by explaining your Insurance policies in a document hung on the wall and on the consent form. Clearly state your policy on co-pays, co-insurance, out of network payments and non-payments. Patients will still complain, but the patient would have signed a document agreeing to your payment policies. Many of them will pay.
You only have to take action once and it won’t be very hard. You will notice a dramatic increase in your in house debt collection as well as your Medical Debt Collection Agency results. Could this be your golden egg laying goose? Absolutely!
ABOUT EXECUTIVE CREDIT MANAGEMENT, INC.
Executive Credit Management is a full-service Debt Collection and Applicant Screening agency with over 20 years experience located in Central New Jersey. We provide excellent service in the following areas: Employment Screening, Business Screening, and Tenant Screening. Executive Credit Management belongs to a number of Skip Tracing databases and offers services to help locate and confirm the current address of missing debtors. Other services provided are: litigation evaluation on all lawsuit decisions, improvement of the quality of the applicant data, Lawsuit Monitoring, Handling of Debtor Disputes. Executive Credit Management features the best Call Monitoring System in the Debt Collection industry.
